This Year's Bio Industry Keywords: AI, Obesity Treatments, Antibody-Drug Conjugates

KOTRA Publishes Exploration Report on '2024 JP Morgan Healthcare Conference Week'

The Ministry of Trade, Industry and Energy and KOTRA announced on the 28th that they have published the 'JP Morgan Healthcare Conference Week Exploration Report' as part of the 'Overseas Exhibition Information Dream' series.

KOTRA Headquarters

The JP Morgan Healthcare Conference is the world's largest pharmaceutical and bio event where global leaders in the medical and pharmaceutical industries gather to discuss new technologies and business trends and seek industrial development. This event, held every January, took place from the 8th to the 11th in San Francisco, USA.

The report stated that the key keywords for the bio industry this year at the JPM conference were artificial intelligence (AI), obesity treatment drugs (GLP-1), and antibody-drug conjugates (ADC).

It pointed out that the demand for AI technology and partnerships between companies is increasing. It introduced cases where Nvidia and Isomorphic Labs announced strategic partnerships with big pharma companies such as Amgen and Eli Lilly for AI drug development.

GLP-1 was highlighted as an effective obesity treatment drug. JP Morgan Research predicted that by 2030, 30 million people, equivalent to 9% of the US population, will use GLP-1, and accordingly, the market size will exceed 100 billion dollars.

Interest in antibody-drug conjugates is also expected to increase. The global market size of 9.78 billion dollars last year is forecasted to grow at an average annual rate of 15.8% until 2028, reaching 19.8 billion dollars. It also analyzed that major pharmaceutical companies are making large-scale investments to secure market dominance, with big deals related to ADC being announced around the JPM conference.

Park Seong-ho, head of KOTRA's North America regional headquarters, said, "This report was planned to disseminate vivid and up-to-date industrial trend information to our companies through representative global exhibitions by industry and to discover new business opportunities." He added, "Along with this, we will do our best to support companies in expanding their global networks in the bio-pharmaceutical field and achieving tangible results by utilizing the ‘K-Bio Desk’ established for the first time in the US region at the New York Trade Center."

This content was produced with the assistance of AI translation services.